Aug. 11 (Bloomberg) -- Greece’s international aid agreement
should have focused more on structural changes and permitted a
slower implementation of austerity measures, To Vima said,
citing Christopher Pissarides, co-recipient of the 2010 Nobel
prize in economic sciences.

Austerity measures have created a recession that makes it
difficult for reforms to achieve results, the paper cited
Pissarides as saying in an article to be published in tomorrow’s
edition. The so-called troika of the International Monetary
Fund, the European Central Bank and the European Union should
now take a milder approach with Greece, Pissarides said.

The only solution, for at least the next two years, is for
the troika to give Greece more money, To Vima reported
Pissarides as saying.